Washington Notebook: Congress drops the ball on Russia PNTR

Wednesday, September 26, 2012

Once again the hyper-partisan Congress has failed to act on important legislation. The issue this time is Permanent Normal Trade Relations (PNTR) for Russia, which would help spur U.S. exports to the seventh largest economy in the world. U.S. businesses are big-time frustrated that Congress didn't vote on giving most-favored nation trading status to Russia during a short session this month before lawmakers adjourned to head home and campaign for the November election. Russia is ready to slash tariffs on most goods by more than half, which would make U.S. products more affordable for Russia's 140 million consumers. The lower tariffs were a condition for Russia's accession to the WTO. Other countries are...